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Dec 26, 2012
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on to the fiscal cliff this morning. the president cutting his vacation short in hawaii. the president plans to leave for washington tonight. congress expected to return on thursday. president, guys, not expected to actually arrive in washington until tomorrow morning. no talks scheduled that we know of as of yet. all the attention's going to turn to the senate, which tends to be more of a compromising body than the house is. >> yes. and the president is available in person if you should want to go over there and visit with him. or perhaps if he wants to visit with anybody else. the consensus seems to be if you get some sort of a deal, it's obviously not going to be the big deal. it will simply be something that extends the tax cuts for the vast majority of americans, at least those earning less than $250,000 a year. the consensus seems to be, carl, that if we don't get a deal by the second or third or fourth week, the super bowl week, we'll start to feel it in the economy. >> we had a notable sell-off. there is typically a bias on christmas eve, but the worst christmas e
on to the fiscal cliff this morning. the president cutting his vacation short in hawaii. the president plans to leave for washington tonight. congress expected to return on thursday. president, guys, not expected to actually arrive in washington until tomorrow morning. no talks scheduled that we know of as of yet. all the attention's going to turn to the senate, which tends to be more of a compromising body than the house is. >> yes. and the president is available in person if you should...
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Dec 24, 2012
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one in three americans have cut personal spending over fiscal cliff worries about the economy. >> i'm definitely shopping on a budget because i just wrote a book, and i had to spend a lot of money to get the book printed. so i have to be very careful. >> i guess we're always on a budget but we always exceed the budget. >> my budget is lower than last year. but it's going okay. i'm still able to get people little gifts here and there. >> we're spending a lot of money this year. we're buying everybody gifts this year. just because i guess it's almost random. >> notice the only one blowing the budget is the woman. notice most of those people we interviewed are guys, because who else waits to the last minute? back to you, joe. >> you're right. although i was a little early this year. but i did it the right way this year, jane, i took her with me. because the humiliation of returning something, you know, four times a year, anniversary, birthday, christmas -- >> would you call my husband and tell him that? >> he should take you, right? it wasn't easy. physically i could carry her. >> any ti
one in three americans have cut personal spending over fiscal cliff worries about the economy. >> i'm definitely shopping on a budget because i just wrote a book, and i had to spend a lot of money to get the book printed. so i have to be very careful. >> i guess we're always on a budget but we always exceed the budget. >> my budget is lower than last year. but it's going okay. i'm still able to get people little gifts here and there. >> we're spending a lot of money this...
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Dec 24, 2012
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, do you see anything from the fiscal cliff? >> i think the average consumer doesn't understand the fiscal cliff but i think they watch the news and understand something is wrong and people are very worried about it. i think that the way things stand now, if we do go over the cliff, it is going to be most of an impact for lower end consumer. i think the higher end consumer still has an ability to spend. certainly maybe a bit more cognizant of impaktd opinion but their ability to spend on discretionary categories, it is not hammered to the extent it'll cause major pull back in spending and categories of things we cover. maybe they won't buy boats and homes, but i think sweaters and watches will sell good in that category. >> that is certainly a big, big worry but again a worry for lower end consumer. more so than the higher end consumer. if you look at employment trends, high end versus low end, it is a very different story and i think that the lower end consumer is the consumer i'm most worried about if we good over the fiscal c
, do you see anything from the fiscal cliff? >> i think the average consumer doesn't understand the fiscal cliff but i think they watch the news and understand something is wrong and people are very worried about it. i think that the way things stand now, if we do go over the cliff, it is going to be most of an impact for lower end consumer. i think the higher end consumer still has an ability to spend. certainly maybe a bit more cognizant of impaktd opinion but their ability to spend on...
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Dec 27, 2012
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we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been no progress over the holiday weekend. michelle, i'm afraid that people who are looking for a deal and looking for a deal by december 31, all hope is not lost. it is not looking good at the moment. >> let's go back to this hitting the debt ceiling on monday. we learned of this because treasury secretary tim good night mother sent a letter to the honorable harry reid majority leader.
we acted to put off the fiscal cliff several months ago with a bill that without objection tend all of those bush tax rates into the future and would turn off the sequester by switching defense cuts over to domestic programs. democrats, of course have no intention of doing that. especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1...
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Dec 24, 2012
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>> the day before christmas, of course, still no fiscal cliff resolution. the $500 billion in spending cuts and tax increases start on january 1st unless the white house and congress reach some sort of agreement. we're joined by former pennsylvania governor ed rendell, co-chair of the campaign to fix the debt. and a cnbc contributor. governor, happy holidays. good morning to you. >> good morning, guys. >> so we're sitting here wondering what can be done in the next seven days. even in your role, if you're having to reset expectations. >> sure. i think it's fair to say the campaign is disappointed. we're not going to -- unless lightning strikes, we're not going to get a big deal. we're going to get something that avoid the cliff. kicks the can down the road on the serious issues. the serious issues, the can gets kicked into the debt ceiling. president says he's not going to deal with the debt ceiling. who knows what's going to happen at that point. i think we blew an opportunity in the last seven weeks to really sit down, do something good for the country, d
>> the day before christmas, of course, still no fiscal cliff resolution. the $500 billion in spending cuts and tax increases start on january 1st unless the white house and congress reach some sort of agreement. we're joined by former pennsylvania governor ed rendell, co-chair of the campaign to fix the debt. and a cnbc contributor. governor, happy holidays. good morning to you. >> good morning, guys. >> so we're sitting here wondering what can be done in the next seven days....
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it if we get close to a fiscal cliff deal at all? representative peter welch with insight when we're back in two. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the centuries and a half. but this idea isn't fragile. when times get tough, it rallies us as one. every day, more people believe in the american idea and when they do, the dream comes true. we're grateful to be a part of it. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could
it if we get close to a fiscal cliff deal at all? representative peter welch with insight when we're back in two. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enterprise, and free refills. it put a man on the moon and a phone in your pocket. our country's gone through a lot over the...
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. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250, andrew. they love that. what does oh, absolutely mean, bob? >> maybe it means his favorite movie was "rebel without a cause." >> go the. >> i guess it's letting the other side know you're willing to go eyeball to eyeball with something that is terrible. >> i see both sides pretending to say, yeah, we're doing all we can, but it's almost just like this -- like boehner just said, hey, you guys, you happen, in the democratic-controlled senate, you put a bill together. i'd love to consider it. he can't get his guys to consider a democratic bill. >> as long as they feel like they can blame the other guy, they feel they have cover. this is not really where we want to go with this. this isn't simply miscalculation. this is a
. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250, andrew. they love that. what does oh, absolutely mean, bob? >> maybe it means his favorite movie was "rebel...
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Dec 26, 2012
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president obama cuts his hawaiian vacation short to deal with the fiscal cliff. it is already too late? good morning, 7:00 in the east. i'm alina cho. >> and i'm drew griffin. soledad o'brien is off today. "starting point" begins right now. >>> our starting point, a cruel one. a one-two christmas punch from mother nature. tornadoes and blizzards tearing through the south and midwest. >> oh, my god. we need to go. it's right there. >> mobile, alabama, took a real beating. a twister blowing up transformers, leaving more than 25,000 customers without power. reports to damage to homes, a high school, and church. >> it came in behind the church right there, and then all green fluorescent lighting and popping transformers left and right. and we heard the crashing and everything and the power went out. >> i prayed to god as loud as i could, and i was just praying for my safety, and i knew the church was shaking. i just prayed that the church stayed put. >> here is the other half of this story, blizzard conditions blanketing much of the midwest and the northeast will get
president obama cuts his hawaiian vacation short to deal with the fiscal cliff. it is already too late? good morning, 7:00 in the east. i'm alina cho. >> and i'm drew griffin. soledad o'brien is off today. "starting point" begins right now. >>> our starting point, a cruel one. a one-two christmas punch from mother nature. tornadoes and blizzards tearing through the south and midwest. >> oh, my god. we need to go. it's right there. >> mobile, alabama, took a...
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Dec 24, 2012
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we know the stocks are down, fiscal cliff. talk about what we think that means for us if we end up going over the fiscal cliff and you're looking at a lot of tax hikes as well as spending cuts. >> yeah. you have to believe if we go over the cliff that some sort of deal will happen up. if not within the first couple days of year, maybe the first couple weeks. what may happen is an impact right away to your paychecks in the early weeks of the new year. here is an idea of what we're in for anyway. we're going to see a lot of tax changes. payroll tax holiday. that would expire, and that means that the amount taken out of your paycheck would go from 4.2% to 6.2%, so that means if you're making $50,000 a year, it means $83 a month comes out of your paycheck. over the cliff it means you have a delay in tax refunds for the 2012 returns and that's because there's yet to be a decision made. also at stake, spending cuts. that can impact jobs. there will be big cuts to defense. that could put about 300,000 jobs at risk. unemployment benef
we know the stocks are down, fiscal cliff. talk about what we think that means for us if we end up going over the fiscal cliff and you're looking at a lot of tax hikes as well as spending cuts. >> yeah. you have to believe if we go over the cliff that some sort of deal will happen up. if not within the first couple days of year, maybe the first couple weeks. what may happen is an impact right away to your paychecks in the early weeks of the new year. here is an idea of what we're in for...
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Dec 29, 2012
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cliff. we are at the very edge. senate leaders are working through the weekend trying to reach a deal before the deadline. today president obama called on lawmakers to meet their deadlines and responsibilities and forge a compromise to avoid tax hike and spending cuts from taking effect. lisa desjardins is live on capitol hill. what's going on right now? >> reporter: right now it's all behind closed doors, martin. what we just have learned in the last hour, in fact, what reporters have seen here, a surprise. house speaker john boehner was here at the capitol. we're still trying to sort out exactly why he was here, but he wasn't here for very long, it seems. he left in the last hour. also, we were able to see some of senator mcconnell's staffers. i was able to speak to one of them coming in and out of these kind of closed-door planning meetings. he said they've been here since 9:00 a.m. they plan to work all day and we may see his boss, senator mcconnell, later today. that shows us kind of wh
cliff. we are at the very edge. senate leaders are working through the weekend trying to reach a deal before the deadline. today president obama called on lawmakers to meet their deadlines and responsibilities and forge a compromise to avoid tax hike and spending cuts from taking effect. lisa desjardins is live on capitol hill. what's going on right now? >> reporter: right now it's all behind closed doors, martin. what we just have learned in the last hour, in fact, what reporters have...
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Dec 27, 2012
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his holiday vacation so he could deal with the looming fiscal cliff. all eyes are on that now and everyone wondering whether congress will be able to reach a deal by january 1st. if not, spending cuts and tax hikes for every american will go into effect and we're watching that story very, very closely. as i mentioned, just five days left before the new year. but wait, before they bring out the champagne and confetti on the 31st, folks in washington need to start making big decisions regarding that fiscal cliff. here's what will happen if no deal is reached. the economy could fall into a recession. that's been widely reported. the congressional budget office forecasts a drop of .5% in the real gross domestic product and a 9.1% unemployment rate by the end of next year. markets in the u.s. and around the world could take a hit. right now the dow is down almost 100 points. no santa clauz rally this year. managing director of the boston consulting group joins me from chicago. great to see you. happy holidays. let's talk about the effect on the economy. i t
his holiday vacation so he could deal with the looming fiscal cliff. all eyes are on that now and everyone wondering whether congress will be able to reach a deal by january 1st. if not, spending cuts and tax hikes for every american will go into effect and we're watching that story very, very closely. as i mentioned, just five days left before the new year. but wait, before they bring out the champagne and confetti on the 31st, folks in washington need to start making big decisions regarding...
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not going to be able to do as much. >> we're looking in six days of going over the fiscal cliff. $600 million in tax increases and spending cuts. >> nobody wants to do that. >> i think we all agree and no talks by all accounts by the president and members of congress. >> the president went -- >> and the president was playing golf in honolulu. listen, i was working on christmas. with all due respect. should congress have taken a break? >> no. >> there are huge implications here. we have to wait on the senate at this point. and that's -- that's our challenge. we did send a bill to them in -- a couple of months ago in august. although now it's four months ago. we sent a bill to them saying let's extend '01, '03 for the time being so we can work on real tax reform. they need to send that back to us. it's true speaker boehner brought another bill for consideration to the house majority. but that's just -- >> and they rejected it. >> that's just moving the hot potato around. nothing is getting done. >> if you look at it, the house has passed a budget for three years in a row. the senate has
not going to be able to do as much. >> we're looking in six days of going over the fiscal cliff. $600 million in tax increases and spending cuts. >> nobody wants to do that. >> i think we all agree and no talks by all accounts by the president and members of congress. >> the president went -- >> and the president was playing golf in honolulu. listen, i was working on christmas. with all due respect. should congress have taken a break? >> no. >> there...
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Dec 25, 2012
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do we know if the president sen gauged in talks or negotiations regarding the fiscal cliff? >> reporter: we know the white house is at this point, suzanne. it's really the white house and senate democrats who are talking at this point. congressional democrats and republicans are not talking, and this is important to note as the senate is set to reconvene on thursday. at some point take up some sort of measure that harry reid will have cobbled together hoping to get some republican support. but right now it is possible, of course, to resolve this. it's also possible according to a lot of sources that we're talking to that we do go over the cliff, but at this point the white house talking to senate democrats about what their proposal is that they'll be putting out here in the nex week. >> if there was some break through i'm assuming the president would cut his vacation short and go back to washington? is that what you understand? >> reporter: they haven't made it official, suzanne, but i think that is the expectation. talking with sources. it's not really a matter of if the pr
do we know if the president sen gauged in talks or negotiations regarding the fiscal cliff? >> reporter: we know the white house is at this point, suzanne. it's really the white house and senate democrats who are talking at this point. congressional democrats and republicans are not talking, and this is important to note as the senate is set to reconvene on thursday. at some point take up some sort of measure that harry reid will have cobbled together hoping to get some republican...
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obama's tax cuts that he passed after we went over the fiscal cliff, it then loses whatever upside there was for republicans, except, and we have to mention this, for republicans vulnerable to primary challenges, there's obviously a lot of anxiety about being, you know, the first republican in 20 years to vote for a tax increase. i think that's the big fear, that it's been so long. republicans haven't cast this kind of vote. you don't want to be the first one to do it. >> yeah, and charles, we're told the democrats may be waiting until the very last minute. maybe they're banking on pressure and the gop caving. what should americans make of that? with so much at stake here? >> i don't think it is. i think there's gamesmanship on both sides, that's obviously true, but i think democrats understand they get a better deal out of this if they actually go over the cliff. what the president was offering, his last round of offers, was in fact something that a lot of democrats and liberals did not take kindly to. in fact, when boehner was not able to pass plan b, he threw the president a lifeline
obama's tax cuts that he passed after we went over the fiscal cliff, it then loses whatever upside there was for republicans, except, and we have to mention this, for republicans vulnerable to primary challenges, there's obviously a lot of anxiety about being, you know, the first republican in 20 years to vote for a tax increase. i think that's the big fear, that it's been so long. republicans haven't cast this kind of vote. you don't want to be the first one to do it. >> yeah, and...
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Dec 24, 2012
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just eight days until america goes off the fiscal cliff. with both sides on holiday break, all we're getting is finger pointing. some republicans say the scenario that's unfolding is part of a white house scheme. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom cliff. gets additional tax revenue for new programs, to cut the military which democrats have been calling for for years and blame republicans for it. >> white house correspond respondent brianna keilar traveling live with the president, joins us from honolulu, hawaii. i suspect this is a working vacation for the president. >> it is what of a working vacation. he is always keeping his on eye on things. but there are not a lot of discussions going on. the white house no longer really having any substantive conversations with house speaker john boehner or senate minority leader mitch mcconnell which is key in finding something to get through the senate and perhaps because of
just eight days until america goes off the fiscal cliff. with both sides on holiday break, all we're getting is finger pointing. some republicans say the scenario that's unfolding is part of a white house scheme. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom cliff. gets additional tax revenue for new programs, to cut the military which democrats have been calling for for...
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only eight days left until america goes off the fiscal cliff. both sides are taking a holiday break, and all we're getting is the blame game. some republicans suggesting that the doomsday scenario that's now unfolding is all part of a white house plan. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at thement bot of the cliff. he gets all this additional tax revenue for new program. he gets to cut the military, which democrats have been calling for for years, and he gets to blame republicans for it. >> white house correspondent breanna keilar has the envy of all assignments of traveling with the president and joins us live from honolulu, hawaii, this morning. breanna, good morning to you. >> reporter: good morning to you, alina. the bottom line here, beginning this week, is that substantive conversations between democrats and republicans are basically nonexistent. the white house and senate democrats are not in communication not only with house re
only eight days left until america goes off the fiscal cliff. both sides are taking a holiday break, and all we're getting is the blame game. some republicans suggesting that the doomsday scenario that's now unfolding is all part of a white house plan. >> when i listen to the president, i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at thement bot of the cliff. he gets all this additional tax revenue for new program. he gets...
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the fiscal cliff is a cut in taxes and a cut in spending which should relieve some of the spending toward the debt limit. it is a factor in terms of long range planning for the united states government. but actually going over the cliff might buy some more time. so i think what secretary geithner was doing was sort of issuing a warning saying we should take care of this now. whatever the plan is in the last five days or even if it's right after the new year should probably take into account the fact we're going to need more room under that debt ceiling at some point. >> jonathan allen, we'll rely on you throughout this crisis to see what's going on. thanks for joining us this morning. >> take care, drew. >>> he was hoping he'd be home by christmas but former president george h.w. bush is still in intensive care at a houston hospital. he's got an elevated fever. the nation's 41st president is on a liquid diet. he's listed as guarded. he's the 88-year-old bush coping with christmas in the hospital? well, his spokesman quotes him as saying i'm determined not to be grumpy with all of this. >>
the fiscal cliff is a cut in taxes and a cut in spending which should relieve some of the spending toward the debt limit. it is a factor in terms of long range planning for the united states government. but actually going over the cliff might buy some more time. so i think what secretary geithner was doing was sort of issuing a warning saying we should take care of this now. whatever the plan is in the last five days or even if it's right after the new year should probably take into account the...
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the fiscal cliff negotiations. if no deal is reached in one week, the tax cuts enacted under president bush will expire and 1.2 trillion in spending cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that honolulu merry christmas saying. >> i don't think i can do it again. ahah! let's start with your paycheck as it applies to the fiscal cliff. if we go off the fiscal live how will mooirn and everybody's paycheck be affected? the majority of the paycheck won't be afeektded until 2014 when people file for 2013 stackses. there are certain things that are impacted right away like the payroll tax cut. for individuals earning about $50,000 a year, they'll be having to pay about $85 less because of the payroll tax cut will be expiring so th
the fiscal cliff negotiations. if no deal is reached in one week, the tax cuts enacted under president bush will expire and 1.2 trillion in spending cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that...
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that fiscal cliff we've already reached. that is going to be in this starting point deal. now, things we're less clear on. for example, the budget cuts that are impending for most of government, and also the debt ceiling. those are two items that we think may not be in a deal. may be kicked down the road. either those budget cuts will hit and will last, or there will be a different fix later. that's where things seem to be right now, but those are a little bit more up in the air. >> lisa, does that extension for tax cuts for everyone over $250,000, is that for households or for individuals? >> that $250,000 is for individuals. >> okay, okay. i see. so how long do lawmakers have to make a deal at this point? >> right. i just want to make sure we're clear. they want to extend the tax cuts for people whose family income is under $250,000. so people making above that would see their taxes increase under that potential deal. so how long do they have? well, until the very last minute, and maybe even beyond. the truth is, this deadline has always been seen at january 1st. monday
that fiscal cliff we've already reached. that is going to be in this starting point deal. now, things we're less clear on. for example, the budget cuts that are impending for most of government, and also the debt ceiling. those are two items that we think may not be in a deal. may be kicked down the road. either those budget cuts will hit and will last, or there will be a different fix later. that's where things seem to be right now, but those are a little bit more up in the air. >> lisa,...
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and the meeting that may be the last best chance to keep the country from going over the fiscal cliff. right now, the leaders of the house and senate are sitting down with president obama in a search for an 11th hour deal to prevent severe tax hikes and spending cuts from automatically kicking in with the new year. cnn's chief white house correspondent jessica yellin is getting new details. jess can ka, what are you hearing about that meeting? >> reporter: candy, the president is going to explain or reiterate the position he took on friday, that he would like a plan that extends tax rates for people who make $250,000 and below but raises them for those who make more than that. that it extends unemployment benefits for americans. and if the president, i'm told will say if he does not get an agreement to that plan, he will ask the other leaders what they can agree to, what what they would like instead. if they cannot come up with a proposal that will pass the house and the senate, will ask for a vote on his measure. but that meeting, candy, is still going on. congre congressional leader
and the meeting that may be the last best chance to keep the country from going over the fiscal cliff. right now, the leaders of the house and senate are sitting down with president obama in a search for an 11th hour deal to prevent severe tax hikes and spending cuts from automatically kicking in with the new year. cnn's chief white house correspondent jessica yellin is getting new details. jess can ka, what are you hearing about that meeting? >> reporter: candy, the president is going to...
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we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> the pressure is on as harry reid and mitch mcconnell race against the clock to find a fix to the fiscal cliff. joining me are cnn contributor and democratic strategist maria cardona and republican strategist ron bonjin. good morning to you. >> good morning. >> good morning. >> ron, i'll start with you. reid and mcconnell, they really are the focus in the senate. in the house, it's speaker john boehner. i've got to ask you, is his job on the line if republicans balk at any deal that's reached? >> no, not at all. speaker boehner is extremely strong. his conferences support him and knows that he's bee
we can only, of course, be talking about the fiscal cliff. our political panel is going to weigh in on the chances for a deal. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> the pressure is on as harry reid and...
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Dec 28, 2012
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. >>> we talked about the effect of hitting the fiscal cliff on american taxpayers. what about businesss? what about businesses? rick newman of u.s. news and world reports tells us they're cutting back already. >> to say that business leaders are anxious i think is an understatement. i think they're thoroughly disgusted because you couldn't run a business like this, and they all know that. it is just kind of driving them crazy. but business leaders have been watching this for a long time, don. unlike a lot of consumers who may have just started paying attention over the last couple of weeks. business leaders have known this is coming for a long time. they know how ugly and dysfunctional it was in 2011 when we went through something similar with the debt ceiling. and they have more or less been expecting the same thing. so what we have seen over the last couple of months is that business activity has really slowed down. >> rick newman, u.s. news and world reports. why don't we remind you once again, that meeting is under way at the white house. at the white house, bet
. >>> we talked about the effect of hitting the fiscal cliff on american taxpayers. what about businesss? what about businesses? rick newman of u.s. news and world reports tells us they're cutting back already. >> to say that business leaders are anxious i think is an understatement. i think they're thoroughly disgusted because you couldn't run a business like this, and they all know that. it is just kind of driving them crazy. but business leaders have been watching this for a...
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Dec 31, 2012
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that are part of the fiscal cliff. mr. mccain: may i thank the senator from maryland, as always, for her usual courtesy and i think she had a very important message and i appreciate not only the words themselves but her eloquence and passion. mr. president, i ask unanimous consent that the senator from south carolina be included in a colloquy during my remarks. the presiding officer: without objection. mr. mccain: mr. president, i, like i believe all of us just finished watching the president's remarks at -- i guess it was the executive office building. and i'm not sure yet as i sort out my impressions of the president's remarks as to whether to be angry or to be saddened. i've been around this town for a number of years, and as is well known, i had an interest in the presidency more than academic and i've watched a lot of presidents, going back to president reagan from the standpoint of a member of congress. and i've watched these other crises as we go through them, whether it be the potential shutdown of the governme
that are part of the fiscal cliff. mr. mccain: may i thank the senator from maryland, as always, for her usual courtesy and i think she had a very important message and i appreciate not only the words themselves but her eloquence and passion. mr. president, i ask unanimous consent that the senator from south carolina be included in a colloquy during my remarks. the presiding officer: without objection. mr. mccain: mr. president, i, like i believe all of us just finished watching the president's...
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Dec 28, 2012
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host: what led to the fiscal cliff? guest: the fiscal cliff is the combination of a bunch of different tax and spending decisions made by washington, dating back over the past 12 years. we had the bush tax cuts that began in 2001 and 2003. we extended them under president obama. those are set to end on monday. $110 billion in annual spending cuts were agreed to under president obama as part of the debt ceiling negotiation. those begin on tuesday. we have the payroll tax cut in place for two years, takes about two percentage points off people's taxes, bill will end on monday. business tax breaks, bill will end on monday. the alternative minimum tax, which is confusing, but it would be a disaster if that was not taken care of, because it would raise the taxes of about 30 million americans for their 2012 income and 2013. and all the confusion could screw up the whole tax filing season. who knows when you will be filing your taxes, because the irs does not know which tax rates will be applied and who will be responsible for
host: what led to the fiscal cliff? guest: the fiscal cliff is the combination of a bunch of different tax and spending decisions made by washington, dating back over the past 12 years. we had the bush tax cuts that began in 2001 and 2003. we extended them under president obama. those are set to end on monday. $110 billion in annual spending cuts were agreed to under president obama as part of the debt ceiling negotiation. those begin on tuesday. we have the payroll tax cut in place for two...
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Dec 30, 2012
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part of the fiscal cliff deal is that there are heavy pentagon cuts in the sequester. the budget is the reason i think president obama would like to have leon panetta told on for a least another year. he is an experienced public official. he was budget director at one time. he has good relations on capitol hill, particularly with republicans. i think the administration would just as soon see him hang in there. he is at the age where he may want to return to california. host: stevens writes in on twitter that he would like to see howard dean offered a position. is there any talk about the howard dean appointment? guest: they do appreciate the job he did during the 2008 election for the party. i have not heard his name. talking with david jackson from "usa today." he also worked at "dallas morning news." i want to go to diane from arizona on the democratic line. caller: is there any possibility ben bernanke and tim geithner could both be replaced? from what i have read, they both have a background or some dealings with the basics and will street. my impression is they ar
part of the fiscal cliff deal is that there are heavy pentagon cuts in the sequester. the budget is the reason i think president obama would like to have leon panetta told on for a least another year. he is an experienced public official. he was budget director at one time. he has good relations on capitol hill, particularly with republicans. i think the administration would just as soon see him hang in there. he is at the age where he may want to return to california. host: stevens writes in...
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Dec 26, 2012
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he is returning to deal with economic matters, the fiscal cliff. if his death has been quietly talking with senate democrats are the christmas holiday to come up with a planned to avert or prevent the cliff. in the meantime, the senate does plan a session tomorrow. perhaps we will hear more about an agreement before the new year's deadline. the house is due tomorrow as well. we do not have an agenda and there. with the fiscal cliffhanging out there heading into the year 2013, do you have optimism or pessimism heading into the new ? you can also send in your comment via twitter, a post a comment on facebook, or write us an e-mail. the theme of optimism or lack of it is prevalent in the papers. wednesday with congress and the president heading back to washington. here is a headline on "usa today." in the wall street journal -- if the in "the washington post." we welcome your phone calls. we will get to them in a moment. we did find another piece at politico. there you have it in the papers this morning about people being optimistic or pessimistic abo
he is returning to deal with economic matters, the fiscal cliff. if his death has been quietly talking with senate democrats are the christmas holiday to come up with a planned to avert or prevent the cliff. in the meantime, the senate does plan a session tomorrow. perhaps we will hear more about an agreement before the new year's deadline. the house is due tomorrow as well. we do not have an agenda and there. with the fiscal cliffhanging out there heading into the year 2013, do you have...
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Dec 31, 2012
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"hours from the fiscal cliff, washington awaits deal." experts foresee a significant drag on the economy. negotiators keeping the bush-era tax cuts in place for all but the wealthiest americans. this is having a huge impact on what the markets want, which is some certainty. good morning, andy. caller: i was a volunteer rescue worker at the world trade center. i have two cancers. these guys want to mess with social security. there was a guy on yesterday. he was willing to pay a little more. he will still have over $200,000 left. he'll have maybe $20,000 last. it is ridiculous. we of the strong people. we are the ones that survive. they call us the little people. we are the strong people. host: it is 7:35 eastern time. the house will gavel and at 9:00 p.m. eastern time. we will have live coverage. the senate is coming in at 11:00 a.m. more from the senate floor yesterday. [video clip] >> i'm sure if president does not want a climate like this happen. i do not want on my watch for this to be the last thing that happens on my watch. i do not
"hours from the fiscal cliff, washington awaits deal." experts foresee a significant drag on the economy. negotiators keeping the bush-era tax cuts in place for all but the wealthiest americans. this is having a huge impact on what the markets want, which is some certainty. good morning, andy. caller: i was a volunteer rescue worker at the world trade center. i have two cancers. these guys want to mess with social security. there was a guy on yesterday. he was willing to pay a little...
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Jan 1, 2013
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i don't know what my decision will be as we move forward on this issue of the fiscal cliff, but i will say this, we will not tolerate the american people being held hostage over the debt ceiling. and these unhelpful cuts that will cut into those who are the most vulnerable. that will not be the pathway that we will take. for every economist will tell you if you invest in your people and build infrastructure, you'll grow this country and you'll turn this economy and you'll be able to get people jobs. that's the message that will come forth from this day, january 1, when we are here in this congress. i want the american people to be optimistic because there are members of congress that will fight for your growth, your opportunity, your freedom. that is what america's all about. i yield back. the speaker pro tempore: the gentlelady yields back. for what purpose does the gentleman from virginia seek recognition? >> i ask unanimous consent to address the house for one minute. to revise and extend. the speaker pro tempore: without objection, the gentleman from virginia is recognized for one
i don't know what my decision will be as we move forward on this issue of the fiscal cliff, but i will say this, we will not tolerate the american people being held hostage over the debt ceiling. and these unhelpful cuts that will cut into those who are the most vulnerable. that will not be the pathway that we will take. for every economist will tell you if you invest in your people and build infrastructure, you'll grow this country and you'll turn this economy and you'll be able to get people...
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Dec 26, 2012
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another day of fiscal cliff or fiscal curve, whatever one wants to term it. what we do know is the law is about to change, all the tax cuts from the bush era are about to expire. across the board spending cuts, some $1.2 trillion over the next ten years. so these are significant changes in law about to occur absent action by the congress and by the president. first of all, thank you, bob for that kind introduction. thanks for being so persist nt. i'm glad to have the chance now to come. in reflecting for my fair well address in the senate, i thought back to what motivated me to run for the united states senate. about 48 years ago i came to washington as a 16-year-old, sat in the gallery and watched a debate occur on civil rights. and i thought at the time some day i'd like to do that. i'd like to represent my state and i'd like to debate the great issues of the day. and after that trip i went home and i wrote on the back of an informal that i would run for the united states senate in 1986 or 1988 and i ran in 1986 and won what was considered to be the biggest
another day of fiscal cliff or fiscal curve, whatever one wants to term it. what we do know is the law is about to change, all the tax cuts from the bush era are about to expire. across the board spending cuts, some $1.2 trillion over the next ten years. so these are significant changes in law about to occur absent action by the congress and by the president. first of all, thank you, bob for that kind introduction. thanks for being so persist nt. i'm glad to have the chance now to come. in...
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Jan 1, 2013
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keep in mind that the threat of tax heights going up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a scalpel. it may not always be the smartest cuts. that is a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts, those also have to be balanced. my principle has always been to do things in a balanced, responsible way and that means revenues as to be part of the equation in turning off the sequester as well as spending cuts. the same is true for any future deficit agreement. we will have to do more to reduce our debt and deficit. i am willing to do more but it will have to be balanced. we will have to do
keep in mind that the threat of tax heights going up is only one part of this so-called fiscal cliff. what we also have facing us starting tomorrow or automatic spending cuts that are scheduled to go into effect. keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a...
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Dec 28, 2012
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cliff we are facing and the elimination of the tax cuts. a lot of the small business owners i talked to and know are in favor of keeping the tax cuts in place especially for the middle class. we believe in balanced approach and we think it's ok to allow the elimination of the tax cuts for the wealthy. as taxes increase, the taxes at my business will be effected and i will have less to pay for investments and new equipment, hiring new people, but personally my income tax rates will go up. it's already a financially constrained environment. but customers tax rates will go up creating less demand for my products and less revenue for me and less tax revenue for the government. i want to urge congress and senators to vote for keeping our tax cuts in place, especially for the middle class and pushing our fiscal crisis to a balanced approach. go ahead and eliminate those tax cuts for the wealthiest individuals. if we all look at it and tried to consider what was going to work for the best, we needed to look at consumer demand. consumer demand is i
cliff we are facing and the elimination of the tax cuts. a lot of the small business owners i talked to and know are in favor of keeping the tax cuts in place especially for the middle class. we believe in balanced approach and we think it's ok to allow the elimination of the tax cuts for the wealthy. as taxes increase, the taxes at my business will be effected and i will have less to pay for investments and new equipment, hiring new people, but personally my income tax rates will go up. it's...
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Dec 27, 2012
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host: talk to us about the fiscal cliff. caller: i am kind of concerned about it. one party makes a recommendation and never followed through. we don't get very much cutting in these negotiations through the years. in 1990 the democrats said that they would do spending cuts, but they did not. everytime i see a young child, 5, 6, 7 years old or younger, i pat them on the head and tell them i am sorry the countries in this mess, they're going to pay for it, because we have too many greedy people who came up through the 1960's and the only thing they are concerned about is . is we're in for a road through the next few years. host: thank you for your views. from accounting today, this article appeared a couple days ago. and within the paper, there was the schart -- venisa in dallas, tx, a business owner. caller: its vanessa. host: hi. if you saw the spelling on my screen, you would pronounced it that way, too. caller: there is no fiscal cliff. nobody said what the actual fiscal cliff is. to try topoinloy confuse the american people. nobody has ever told us what the fis
host: talk to us about the fiscal cliff. caller: i am kind of concerned about it. one party makes a recommendation and never followed through. we don't get very much cutting in these negotiations through the years. in 1990 the democrats said that they would do spending cuts, but they did not. everytime i see a young child, 5, 6, 7 years old or younger, i pat them on the head and tell them i am sorry the countries in this mess, they're going to pay for it, because we have too many greedy people...
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Dec 29, 2012
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i am happy republicans are fighting to have a balanced point of view for the fiscal cliff. if the president wants to spend $one. 6 trillion, he should cut the spending by that. it should be 400,000 jobs. people who give us jobs are the people that earn $400,000 and can afford to have a family and pay for employees. i am very grateful for your mentioning the fact he went on 310 campaigns. i was wondering what he was doing when he was not in the office leading. now i understand he was out campaigning. when he does campaign, have you been able to figure out how much he has cost the american taxpayer for the trips he takes? in hawaii, they mentioned he is lazy because he is from hawaii. i am wondering if he spends all his time campaigning. host: it sounds like he might spend time there because it is warmer than washington, d.c. caller: he does not work that much. when he was in chicago in the senate, in the illinois senate, he did not work that hard. he was only marked present. i did not believe that. now i see the way he operates. he does not seem to be doing his job. that is
i am happy republicans are fighting to have a balanced point of view for the fiscal cliff. if the president wants to spend $one. 6 trillion, he should cut the spending by that. it should be 400,000 jobs. people who give us jobs are the people that earn $400,000 and can afford to have a family and pay for employees. i am very grateful for your mentioning the fact he went on 310 campaigns. i was wondering what he was doing when he was not in the office leading. now i understand he was out...
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Dec 30, 2012
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because at the bottom of the fiscal cliff, our our -- are immediate and massive tax increases, deep and indiscriminate spending cuts and the risk of another recession. so as we come down on the final hours, we have two choices -- to do nothing and cause an unbelievable amount of hardship for our fellow americans or to do something to reduce the suffering inflicted on our citizens by an inflexible political system. mr. president, i choose to do something, so today i'm introducing the calm act which stands for the cliff alleviation at the last minute act. the calm act will do three important things. it will soften the financial blow of the fiscal cliff. it will calm our financial markets. it gives us the certainty of a plan now but allows us if we ever find the courage to pursue the fiscal grand bargain that has eluded us so far. make no mistake, the financial markets are watching us, and they're getting more nervous by
because at the bottom of the fiscal cliff, our our -- are immediate and massive tax increases, deep and indiscriminate spending cuts and the risk of another recession. so as we come down on the final hours, we have two choices -- to do nothing and cause an unbelievable amount of hardship for our fellow americans or to do something to reduce the suffering inflicted on our citizens by an inflexible political system. mr. president, i choose to do something, so today i'm introducing the calm act...
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Dec 28, 2012
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cliff and talked about negotiations surrounding the tax hikes and automatic spending cuts scheduled to take effect in a few days. this is about 5 minutes -- 15 minutes. >> madam president, you'll excuse me if i'm a little frustrated at the situation we find ourselves in, but last night president obama called myself and the speaker and maybe others from hawaii and asked if there was something we could do to avoid the fiscal cliff. i say i'm a little frustrated, because we've been asking the president and the democrats to work with us on a bipartisan agreement for months, literallye for months. a plan that would simplify theod tax code, shrink the deficit, protect the taxpayers and grow the economy. but democrats consistently rejected those offers. the president chose instead to spend his time on the campaign trail. reelected. and congressional democrats sat on theirel hands. now republicans have bent over backwards. we stepped way, way out of our comfort zone. we wanted an agreement. w but we had no takers. but the phone never rang, and so now here we are five days from the new year,
cliff and talked about negotiations surrounding the tax hikes and automatic spending cuts scheduled to take effect in a few days. this is about 5 minutes -- 15 minutes. >> madam president, you'll excuse me if i'm a little frustrated at the situation we find ourselves in, but last night president obama called myself and the speaker and maybe others from hawaii and asked if there was something we could do to avoid the fiscal cliff. i say i'm a little frustrated, because we've been asking...
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Dec 27, 2012
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timtime to take down the verbal warfare and cut a deal sparing the fallout of the fiscal cliff. gerri: can we get anything with any meaning before the end of the year? >> not get your hopes up on a big deal on the debt. not too many tax increases, some will be in there. avoiding the sequester, the spending cuts, that is the best thing that could happen at this point and i'm pretty optimistic person, i get up every morning thinking good things will happen but this is causing me to drink every night so i did not know if i will get there or not. gerri: you glass half-full kind of guy. i hope your champagne glasses more than half full on new year's. have a good one. while the chances of lawmakers reaching a deal seemed to be slim to none, you'll be glad to know some state lawmakers will% be warned though much more productive. here are some of our favorites. let's start with illinois. starting in 2013 and new law gives motorcyclists be okay to run red lights. leave it or not. after complaints from cyclist who say light sensors don't see the cycles. and the okay for computer-driven ca
timtime to take down the verbal warfare and cut a deal sparing the fallout of the fiscal cliff. gerri: can we get anything with any meaning before the end of the year? >> not get your hopes up on a big deal on the debt. not too many tax increases, some will be in there. avoiding the sequester, the spending cuts, that is the best thing that could happen at this point and i'm pretty optimistic person, i get up every morning thinking good things will happen but this is causing me to drink...
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Dec 26, 2012
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tracy: a nice and shiny fiscal cliff. president obama cut his vacation short. we are tracking where it is headed next. we are expecting negotiations to continue tomorrow. there is talk now that that may not happen. time to head down to the new york stock exchange with nicole petallides. nicole: merry christmas to everybody. the vix, the fear index, has been to the upside. whether or not washington will solve the worries about the so-called fiscal cliff approaching quickly. here is a look at the dow. 13,100 even. most of the dow components are under pressure. hewlett-packard doing well and bank of america in the financial round. it really is being laid upon by the retailers. i no adam shapiro will add on to that. there is a look at some movers. michael cores down over 6%. tracy: i was in the balls this weekend. lori: crowded theater not like i thought it would be. adam shapiro in the newsroom with the details. i thought it was way busier last year than it was this weekend. >> no. here are some numbers. for the period of october to eight and december 24, sales gr
tracy: a nice and shiny fiscal cliff. president obama cut his vacation short. we are tracking where it is headed next. we are expecting negotiations to continue tomorrow. there is talk now that that may not happen. time to head down to the new york stock exchange with nicole petallides. nicole: merry christmas to everybody. the vix, the fear index, has been to the upside. whether or not washington will solve the worries about the so-called fiscal cliff approaching quickly. here is a look at the...
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Dec 28, 2012
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if the fiscal cliff hits. i mean, this is the wrong posture. we don't want people that create jobs, people that decide how many people will be hired in the next year to be having -- to have bad karma now. we want people looking forward in a positive way, how we're going to grow into new markets, how to export more. we need the country to be more competitive so we can export to china, mexico, export to canada. that's critical, growth. if we have growth, we hire more people. dagen: drew, thank you, great to see you. happy new year. >> thank you, go rg iii. dagen: yeah, babe! we'll kick the cowboys you know what into mexico. drew, thank you, be well. end on a positive note. positive newses too for the housing market, recovery on the way. anthony sanders is here saying washington better not screw it up. in a show of arms, iran's military moves and what that means for the price of oil and gasoline here at home. look at how oil is trading today, well above $90 barrel a mark, down just slightly, but close to 91 bucks
if the fiscal cliff hits. i mean, this is the wrong posture. we don't want people that create jobs, people that decide how many people will be hired in the next year to be having -- to have bad karma now. we want people looking forward in a positive way, how we're going to grow into new markets, how to export more. we need the country to be more competitive so we can export to china, mexico, export to canada. that's critical, growth. if we have growth, we hire more people. dagen: drew, thank...
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Dec 26, 2012
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my next guest that with the president about the budget cuts that will hit if we go over the fiscal cliff. we are talking about sequestration. burial blakely -- great to see you. >> i think the president has stated very clearly that the cuts will not happen. we have a need for the congress to join him back here and washington and get a deal done. dagen: are you worried that there is so much attention being paid to the automatic tax increases and not dealing with the sequestration that would hit your industry hard? >> you have it exactly right. the slashing cuts in federal programs will begin to affect everyone and affect us immediately. certainly, the defense industry is very worried. the readiness of our troops, the equipment they depend on, the technology that is the united states edged, that is what is really in peril here. we are all worried about that. we are worried about the layoffs that will come in the defense industry. dagen: have any of these cops already started to happen? what have you seen in the activities of these big companies? >> they have already had to start making pla
my next guest that with the president about the budget cuts that will hit if we go over the fiscal cliff. we are talking about sequestration. burial blakely -- great to see you. >> i think the president has stated very clearly that the cuts will not happen. we have a need for the congress to join him back here and washington and get a deal done. dagen: are you worried that there is so much attention being paid to the automatic tax increases and not dealing with the sequestration that...
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Dec 27, 2012
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. >>> jitters over the fiscal cliff sent the fear index or the vix leaping yet again. it hit the highest level since july. the vix is up 30% over the last month. >>> apple's tim cook is getting a 99% cut in compensation this year. cook will take home $4.2 million compared to 378 million bucks in 2011. apple made clear the decline has nothing to do with performance. cook's sky-high 2011 pay package was largely award of one million restricted shares of stock after he took the reins at apple as ceo. that money would come in handy in washington, wouldn't it? that is our top story. the senate convened today for emergency session to deal with the fiscal cliff. the house has announced plans to reconvene on sunday. both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff deal will be made before the deadline. so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very simply,
. >>> jitters over the fiscal cliff sent the fear index or the vix leaping yet again. it hit the highest level since july. the vix is up 30% over the last month. >>> apple's tim cook is getting a 99% cut in compensation this year. cook will take home $4.2 million compared to 378 million bucks in 2011. apple made clear the decline has nothing to do with performance. cook's sky-high 2011 pay package was largely award of one million restricted shares of stock after he took the...
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Dec 28, 2012
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the white house meeting on the fiscal cliff is less than an hour away. we will tell you which companies will be first to get slammed by automatic spending cuts and tax hikes and still ahead a critical weekend for retailers, analyst christian betts says shoppers have all the power right now. she is here coming up but as we do every day at this time we want to check how oil is moving. she's still the one for you - you know it even after all these years. but your erectiledysfun- you know,that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anyme the moment's right. you can be more confident in your ability to be ready. and the same cialis is t only daily ed tablet approved to treat ed and symptoms of bph, like needingo go frequently or urgently. tell your doctorbout all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. s
the white house meeting on the fiscal cliff is less than an hour away. we will tell you which companies will be first to get slammed by automatic spending cuts and tax hikes and still ahead a critical weekend for retailers, analyst christian betts says shoppers have all the power right now. she is here coming up but as we do every day at this time we want to check how oil is moving. she's still the one for you - you know it even after all these years. but your erectiledysfun- you know,that...
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Jan 1, 2013
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goes on to tweet republican's fiscal cliff double think fiscal crisis demands cuts in service, no investment in jobs but allows more tax cuts for richest americans. if and when this comes up for votes in the house and senate, it's unclear how many democrats especially on the left will support this, or buck the president, basically. bret? >> bret: ed henry live in the white house. thank you. stocks started the week up. possibly encouraged early in the day about talk of this possible deal. the dow finished ahead 166. the s&p 500 was up 24. the nasdaq gained 59 another deal not fiscal cliff related. the senate home security committee blasted the state department for failures leading to the deadly september 11th attack on the u.s. mission in benghazi, libya. this comes on the heels of another scathing report by an independent state department accountability review board that we have covered many times. chief intelligence correspondent catherine herridge has the latest senate report sites the white house for president obama inconsistent statements whether the benghazi assault was terrorist attack
goes on to tweet republican's fiscal cliff double think fiscal crisis demands cuts in service, no investment in jobs but allows more tax cuts for richest americans. if and when this comes up for votes in the house and senate, it's unclear how many democrats especially on the left will support this, or buck the president, basically. bret? >> bret: ed henry live in the white house. thank you. stocks started the week up. possibly encouraged early in the day about talk of this possible deal....
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Dec 28, 2012
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gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion cut that is being applied right now as we speak. to take another cut on top of that is devastating. >> reporter: it's not just the military itself that will take a hit, also the defense industry, defense contractors, private companies that do work for the pentagon. one democratic congressman in northern virginia whose district maybe hit the hardest by all of this says it could mean layoffs. >> the large defense contractors will probably be okay, they have significant cash reserves, most of them. the smaller contractors would have trouble getting their lines of credit extended, trouble keeping their employees, i
gregg: this lawmakers do not reach a deal with regard to the fiscal cliff cuts will go into the defense department. >> reporter: the whole package of spending cuts is $1.2 trillion, half to the defense department. the army, navy, air force marines would take equal cuts according to one analyst who says the impact on the military overall will be, quote, very serious. >> the pentagon and the departments are already in financial trouble, because there has already been a $480 billion...
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Dec 30, 2012
12/12
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part of the looming fiscal cliff includes a painful dose of automatic spending cuts that would kick in just a few days from now. our military would be on the receiving end of a lot of it. a half trillion dollars in cuts over the next decade. it has a fancy name. it is called see -- sequestration. many warn of job losses and even the impact on the national security. now, the news on this from washington. >> harris, last friday when president obama rolled out his new plan for steering us away from the fiscal cliff there was a word he did not say. that word was sequester. it would cut $100 billion from the budget next year, half from domestic programs and half from defense programs. and now as the deadline draws close, experts are look at these cuts from a national security standpoint and warning one final time about their impact on the safety of our service members. >> it is going to affect the operational force that is deployed in terms of its you ability to maintain its equipment and get repair parts. that force is deployed around the world. it is not just the force in afghanistan that
part of the looming fiscal cliff includes a painful dose of automatic spending cuts that would kick in just a few days from now. our military would be on the receiving end of a lot of it. a half trillion dollars in cuts over the next decade. it has a fancy name. it is called see -- sequestration. many warn of job losses and even the impact on the national security. now, the news on this from washington. >> harris, last friday when president obama rolled out his new plan for steering us...
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Dec 30, 2012
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part of the looming fiscal cliff includes a painful dose of automatic spending cuts that would kick in just a few days from now. our military would be on the receiving end of a lot of it. a half trillion dollars in cuts over the next decade. it has a fancy name. it is called see -- sequestration. many warn of job losses and even the impact on the national security. now, the news on this from washington. >> harris, last friday when president obama rolled out his new plan for steering us away from the fiscal cliff there was a word he did not say. that word was sequester. it would cut $100 billion from the budget next year, half from domestic programs and half from defense programs. and now as the deadline draws close, experts are look at these cuts from a national security standpoint and warning one final time about their impact on the safety of our service members. >> it is going to affect the operational force that is deployed in terms of its you ability to maintain its equipment and get repair parts. that force is deployed around the world. it is not just the force in afghanistan that
part of the looming fiscal cliff includes a painful dose of automatic spending cuts that would kick in just a few days from now. our military would be on the receiving end of a lot of it. a half trillion dollars in cuts over the next decade. it has a fancy name. it is called see -- sequestration. many warn of job losses and even the impact on the national security. now, the news on this from washington. >> harris, last friday when president obama rolled out his new plan for steering us...
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Dec 29, 2012
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if it does go to the fiscal cliff and we go over it, sequestration would cut only $109 billion next year. that is actually not a lot in a budget of almost four trillion, is it? >> it's not a lot of the total number, half of that goes to defense which are own admirals and generals have said and secretary of defense would be devastating. this comes on top of -- $50 billion in one year to the defense. and it doesn't touch at all medicare and the other entitlement programs. >> gregg: biggest drivers and cost and absolutely nothing has been done about those things? >> it's criminal. she is things are going to destroy us. we can live with higher taxes, you might not think it's the best idea on the rich. i think it's a way to go about it but we can't survive we are without adjusting our entitlement reform unless it is addressed. >> gregg: jamie weinstein, it's criminal -- i didn't take it that far but you do did. >> without a fiscal cliff teal the pentagon is bracing for $500 billion but that is over the next decade and raises questions how military leaders plan to keep the nation safe. >> last
if it does go to the fiscal cliff and we go over it, sequestration would cut only $109 billion next year. that is actually not a lot in a budget of almost four trillion, is it? >> it's not a lot of the total number, half of that goes to defense which are own admirals and generals have said and secretary of defense would be devastating. this comes on top of -- $50 billion in one year to the defense. and it doesn't touch at all medicare and the other entitlement programs. >> gregg:...
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Dec 26, 2012
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vacation short to deal with the dreaded fiscal cliff. with just six days until the deadline, some lawmakers say it might be too late. and that's next. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. from the president cutting his holiday vacation in hawaii short to get back to work on avoiding the fiscal cliff. the white house says the president is set to return to the nation's capital tomorrow morning to try to hammer out a deal where lawmakers on stopping automatic tax hikes and deep spending cuts from kicking in, which is set to happen, if you're not watching the calendar, six days from now. if they don't reach a deal many say it could send the country right back into recession. ed hen
vacation short to deal with the dreaded fiscal cliff. with just six days until the deadline, some lawmakers say it might be too late. and that's next. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us...